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STANY is the voice of the trading community in the Great New York City area. STANY represents individuals, engaged in the buying, selling and trading of securities. As such, we are uniquely qualified to discuss rules and regulations affecting the purchase and sale of securities. STANY does not represent a single business or business model, but rather provides a forum for trading professionals from institutions, broker-dealers, ECNs, ATSs and systems providers to share their unique perspectives on issues facing the securities markets. Our members work together to promote their shared interest in efficient, liquid markets, as well as their concern for investor protection. We believe that strong and efficient markets require an appropriate balance between effective regulation and innovation and competition. STANY has consistently been an advocate for reasoned regulation aimed at solving real problems and improving US capital markets. We have also opposed regulation for regulation’s sake. Despite our members’ diverse backgrounds and member firms’ differing business models, our members’ primary concern is promoting strong and robust markets that offer investors the best choices, provide businesses advantageous capital formation tools, and ensure the US its premier place as a world leader in the financial markets. We desire a market that instills investor confidence and fosters investor participation.
STANY Comment Letters
Industry Response to Unusual Trading of May 6th SEC to File Limit Up Limit Down Rules April 6, 2011 On Wall Street article discussing the proposal SEC Announcement of Limit Up Limit Down Proposal SEC Chairman, Mary Schapiro's Testimony on the Events of May 6th Click here for the May 20th testimony. SEC to Publish for Public Comment Stock-by-Stock Circuit Breaker Rule Proposals. Click here for press release May 18, 2010. STANY's letter to SEC Chairman Mary Schapiro and the Senate Banking Committee STANY supplemental letter May 6 2010 Knight's Perspective on the market event of May 6, 2010 from Thomas M. Joyce, Chairman & CEO, Knight Capital Group Click Here. SEC's statement on the events of May 6th Click here. STANY files Comment Letter on Risk Managment Controls for Brokers or Dealers with Market Access Click Here for STANYComment Letter Market Access March 29 STANY and STA File Comments on SEC's Non-Public Liquidity Proposal Click here for STANY's Comment STANY_Comment_Dark_Pools_February_17_2010 Click here for STA's Comment STA Non-Public Displayed Liquidity FINAL SEC asks Exchanges to devise new trading rules Click here for story. Exchanges agree in principle to uniform circuit breakers Click here for story. STANY Comments on FINRA QCF STANY files letter with SEC opposing FINRA's proposal to create a Quotation Consolidation Facility STANY Comment FINRA QCF-Jan-13 2010 FINRA Proposal Riles OTC Market- for article click here. STANY and STA file comments to SEC's proposed amendments to Reg SHO See STANY's Letter in response to SEC's Supplemental Request for Comment STANY_Comment_Reg_Sho_9-21-09 See STA's Letter in response to SEC's Supplemental Request for Comment
All News
Supreme Court Scrutinize Adviser Pay
11/3/2009 12:00:00 AM
The Supreme Court on Monday appeared reluctant to allow judges to take on a major role in policing the compensation of mutual fund investment advisers. But some justices nonetheless suggested that pay arrangements could be so outsized that the courts may have to step in. The case arrived at the court in the midst of a national debate about whether the marketplace can be trusted to set the pay of corporate executives. Though the case on Monday was related to mutual funds, the justices’ questions touched on the roles that courts and regulators should take in setting other kinds of compensation, including that of executives, directors and lawyers. For full story http://www.nytimes.com/2009/11/03/business/03bizcourt.html?_r=2&ref=business
Adam Liptik, NY Times
http://www.nytimes.com/2009/11/03/business/03bizcourt.html?_r=2&ref=business
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